The transportation industry is now feeling deeper effects of the sudden disruption of oil supply in the global market. Ocean liners, which already faced tight bunker supplies at fueling hubs, are now deploying operational changes to mitigate fuel expenses. These include slowing transit times to conserve fuel, and applying emergency fuel surcharges beginning in April.
These rapid changes to structural costs have led carriers to shorten validity periods on rates in all markets. Air freight has seen multiple fuel increases in the last few weeks and may hold rates for only 24 hours at a time. Ocean rates are being offered with one week validity or even validity by vessel, and domestic trucking charges are subject to change with the price of U.S. diesel.
Importers are advised to pay careful attention to quote validities in the coming weeks as market rates continue to react.
O.T.S. will monitor this fluid situation and provide updates as they become available. Please do not hesitate to reach out to your O.T.S. Sales Representative for more information.
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March 10, 2026- Airfreight carriers have begun announcing increases to fuel surcharges as oil prices surge in response to the war in Iran. In addition to crude oil production, the Middle East is an important supplier of refined jet fuel, which is typically produced for immediate consumption and not stored long-term. The sudden disruption of oil refinement and distribution chains has drastically affected fuel supply and prices. Global refining capacity is limited and cannot be ramped up quickly enough to absorb such turbulence.
Major carriers have announced a 40% increase to take effect by March 16th, with others expected to quickly follow suit. As these increases take hold across the market, O.T.S. will need to adjust the current airfreight fuel surcharge to reflect the carrier driven changes.